Media coverage about Red Hat (NYSE:RHT) has trended somewhat negative on Tuesday, according to Alpha One Sentiment Analysis. The research firm, a service of Accern, scores the sentiment of news coverage by analyzing more than twenty million blog and news sources. Alpha One ranks coverage of public companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Red Hat earned a news sentiment score of -0.10 on Alpha One’s scale. Alpha One also gave news headlines about the open-source software company an impact score of 83 out of 100, meaning that recent news coverage is very likely to have an impact on the company’s share price in the near future.
These are some of the headlines that may have effected AlphaOne’s scoring:
A number of brokerages have recently issued reports on RHT. Oppenheimer Holdings Inc. reissued an “outperform” rating and set a $96.00 target price (up from $94.00) on shares of Red Hat in a research note on Wednesday, May 10th. Drexel Hamilton lifted their price objective on Red Hat to $110.00 in a report on Tuesday, March 28th. Stifel Nicolaus restated a “hold” rating and issued a $83.00 price objective (up from $70.00) on shares of Red Hat in a report on Tuesday, March 28th. BMO Capital Markets lifted their price objective on Red Hat from $75.00 to $90.00 and gave the company a “market perform” rating in a report on Tuesday, March 28th. Finally, Goldman Sachs Group Inc boosted their target price on shares of Red Hat from $72.00 to $80.00 and gave the stock a “sell” rating in a report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. Red Hat currently has a consensus rating of “Buy” and a consensus price target of $91.51. Red Hat (NYSE RHT) opened at 91.75 on Tuesday. The stock’s 50 day moving average price is $88.20 and its 200-day moving average price is $81.60. Red Hat has a 12-month low of $68.54 and a 12-month high of $92.49. The stock has a market capitalization of $16.31 billion, a PE ratio of 66.01 and a beta of 1.44.
Red Hat (NYSE:RHT) last announced its quarterly earnings data on Monday, March 27th. The open-source software company reported $0.61 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. Red Hat had a return on equity of 20.57% and a net margin of 10.36%. The firm had revenue of $628.80 million for the quarter, compared to analysts’ expectations of $618.64 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Red Hat’s revenue for the quarter was up 15.7% compared to the same quarter last year. Analysts expect that Red Hat will post $2.60 earnings per share for the current year. In other news, EVP Delisa Alexander sold 311 shares of the stock in a transaction that occurred on Wednesday, April 5th. The stock was sold at an average price of $85.75, for a total transaction of $26,668.25. Following the sale, the executive vice president now directly owns 37,373 shares in the company, valued at approximately $3,204,734.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO James M. Whitehurst sold 12,000 shares of the stock in a transaction that occurred on Tuesday, March 28th. The stock was sold at an average price of $86.50, for a total value of $1,038,000.00. Following the sale, the chief executive officer now owns 417,072 shares in the company, valued at $36,076,728. The disclosure for this sale can be found here. Insiders have sold 244,874 shares of company stock worth $21,438,567 in the last 90 days. 0.76% of the stock is currently owned by insiders.
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